Llanmoor Homes – helping to contribute significantly to affordable housing targets in Wales
The Welsh Government target of building an additional 20,000 affordable homes during this Assembly term is an ambitious one, but one that Llantrisant-based housebuilder Llanmoor Homes is doing its best to contribute towards.
Llanmoor currently have six active developments in South Wales, with further developments and land purchases in the pipeline for 2017. On many of Llanmoor Homes’ current developments, provision is being made for delivery of affordable homes under a variety of schemes to help provide good quality new homes for buyers finding it difficult to secure access to the housing ladder.
As well as providing much-needed social housing to help combat the social housing crisis, many of Llanmoor’s developments are situated in Rhondda Cynon Taff and feature homes available through the RCT Council’s own Homestep Retained Equity Scheme. Homestep allows purchasers to buy their home at 70/75% of its full market value with the Council retaining the remaining 30/25%, meaning that purchasers only need a deposit and mortgage for a low percentage of the property value.
At Bryn Meurig in Llanharry, 20% of the total number of homes on the development will be affordable housing including six 2 bedroom homes on the Homestep Scheme, while at St Ilid’s Meadow in Llanharan a dedicated area nearby has been allocated for social housing and three homes on the Llanmoor development will be available through Homestep. At Llanmoor’s Padfield Court development in Tonyrefail, 15% of the total number of homes on the development will be sold using Homestep, these all being two bedroom Chelsea house types.
In 2017, subject to planning approvals being granted, Llanmoor hope to be able to break ground on at least two further brand new developments in South Wales. These developments would generate provision of over 150 affordable homes, both for the social rental market and subsidised open market homes sold at reduced prices under Homestep or other similar Local Authority schemes.
Llanmoor have also had great success selling homes under the Government’s Help to Buy – Wales Scheme, which enables buyers to purchase a new build property up to the value of £300,000 with as little as a 5% deposit and 75% mortgage. Help to Buy Wales has opened up the prospect of purchasing a new home to many people who previously may have felt it an impossibility. Since the introduction of Help to Buy in January 2014, Llanmoor have sold over 180 homes under the scheme at a total sale value of over £32million. As was always the primary intention of this scheme, over 70% of the total sales secured have been to first time purchasers
Tim Grey, Sales Director at Llanmoor Homes, said: “There is a dire need for new homes, including affordable housing, across the UK. In Wales we’re seeing more people than ever able to purchase a new home thanks to Help to Buy which is a fantastic achievement, but we must also seek to work with Welsh Assembly Government in order to ensure that the targets they have set for affordable housing are being met.
“Help to Buy has not only provided much-needed support to buyers, but also to housebuilders. The steady increase in the demand for new homes has also enabled the pace of construction to increase significantly, assisting us to build at the rates needed to continue to address the UK housing crisis. As long as this support from the Welsh Government for housebuilders and new housing developments continues, Llanmoor Homes should be able to contribute significantly towards the 20,000 target during this Assembly term.”